Aquafil Spa · MIL:ECNL
Aquafil Spa — Virtual Star Conference 2021
69 slides from Aquafil Spa's conference presentation, Mar 24, 2021
Slide 1: Corporate Presentation – Virtual Star Conference 2021
AQUAFIL Corporate Presentation Virtual Star Conference 2021 24th and 25th March 2021
Slide 2: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 3: Pioneers of circularity with ECONYL
• Pioneers of circularity with ECONYL®: - A unique Regeneration System to produce sustainable fiber and polymers from nylon 6 waste; - High barriers to entry for technology and reverse supply chain; - Turnover of product branded ECONYL® equal to ca 37% of fiber turnover - significant environmental a
Slide 4: Aquafil – Product Lines
Aquafil – Product Lines Contribution to Key Applications 2018 European PA Market Shares (1) Revenues FY21 A Contract Fiber for carpet flooring Residential 70% BCF Product Automotive B Clothing & Fashion Fiber for fabric Swimwear ca. 22% NTF Product Sportswear High-tech clothing C Polymers EP Product
Slide 5: Aquafil – Value Chain
Aquafil – Value Chain Raw materials Production Distribution Clients Final Application BCF Flooring Solutions Selected Manufacturers Application Users Production and finishing of Standard Caprolactam premium synthetic yarns, Direct sale / Contract • Nylon 6 monomer principally Nylon 6, for agents (bu
Slide 6: Aquafil Worldwide – Global Footprint
Aquafil – Global Footprint with Clients proximity AQUAFIL WORLDWIDE USA UK CROATIA CHINA Cartersville (Georgia) Kilbirnie Oroslavje Jiaxing Aquafil USA 1 & 2 Aquafil UK Aquafil CRO Aquafil Jiaxing Phoenix (Arizona) Aquafil Carpet Recycling SLOVENIA THAILAND ACR#1 Ljubljana Rayong AquafilSLO Sacramen
Slide 7: Aquafil – 50 years of Growth Key Milestones
Aquafil – 50 years of Growth Key Milestones Acquisition of O’Mara Incorporated In US Acquisition of Invista BCF Business in Listing in Italian Asia Pacific Stock Exchange Doubling of Production Capacity in China Acquisition of Xentrys from Domo Chemicals The ECONYL® plant in Slovenia begins producin
Slide 8: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 9: Market – Fiber for Carpet (BCF Product Line)
Market –Fiber for Carpet (BCF Product Line) A Fiber for carpet flooring - BCF Product 2018 PA Market Shares1 Integrated Players Competitors (1) Aquafil on Wood Mackenzie market data - Based on volume 9
Slide 10: Market – Fiber for Fabric (NTF Product Line)
Market –Fiber for Fabric (NTF Product Line) B Fiber for Fabric - NTF Product 2018 Market Shares1 Textile mass production is in APAC, with A leading player with limited competition. Europe’s core focus is on high-end Only 3 suppliers capable of offering products production. Fast fashion needs lead to
Slide 11: Market – Engineering Plastics Solution
Market – Engineering Plastics Solution C EP Description Engineering Plastic Compounders Aquafil manufactures nylon 6 and raisin pellet polymers for compounders. Once the polymer has been transformed into a techno- polymer, compounders sell the semi-finished product to the industrial Industrial moldi
Slide 12: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 13: ECONYL – The Regeneration System
ECONYL – The Regeneration System • 100% regenerated & regenerable nylon • Unique proprietary technology • Ca 37 % of Aquafil fiber 2020 revenues WWW.ECONYL.COM 13
Slide 14: ECONYL – Step 1 Rescue
ECONYL – Step 1 Rescue The ECONYL® Regeneration System starts with rescuing waste, like fishing nets, fabric scraps, carpet flooring and industrial plastic from landfills and oceans all over the world. That waste is then sorted and cleaned to recover all of the nylon possible. 14
Slide 15: ECONYL – Step 2 Regenerate
ECONYL – Step 2 Regenerate Through a radical regeneration and purification process, the nylon waste is recycled right back to its original purity. That means ECONYL® regenerated nylon is exactly the same as virgin nylon. 15
Slide 16: ECONYL – Step 3 Remake
ECONYL – Step 3 Remake ECONYL® regenerated nylon is processed into carpet yarn and textile yarn for the fashion and interior industries. 16
Slide 17: ECONYL – Step 4 Reimagine
ECONYL – Step 4 Reimagine Fashion brands and carpet producers use ECONYL® regenerated nylon to create brand new products. And that nylon has the potential to be recycled infinitely, without ever losing its quality. 17
Slide 18: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 19: Sustainability path – Grounded on vision and business model
Aquafil sustainability path – Grounded on vision and business model • Journey to circularity started with a deep business model review to prepare Group to next decades evolution based on cultural sensitiveness to environmental topics and Group R&D and technological strengths • Aquafil correctly iden
Slide 20: Sustainability path – A journey started in 1990
Aquafil sustainability path – A journey started in 1990 1990 1998 2007 2008 2011 2013 «Lactamic waters» Waste recovery The Eco Pledge® «Energy & ECONYL® «The Healthy Seas – A recovery from for techno polymers foundation Recycling» team: Regeneration System: journey from Waste to polymerization produ
Slide 21: Sustainability path – The ECO PLEDGE
Aquafil sustainability path – The ECO PLEDGE® RETHINKING PRODUCTS IN A CIRCULAR PERSPECTIVE SUPPORT LOCAL Innovating products to make them more COMMUNITIES and more circular, giving new life to waste materials, in an infinite cycle. Grow in harmony with local communities, promoting a prosperous and
Slide 22: Sustainability path – The ECO PLEDGE
Aquafil sustainability path – The ECO PLEDGE® SUSTAINABILITY PILLARS IMPROVEMENT AREAS TOPICS • Creation of new sustainable value chains • Creation of a new recycled products/ RE THINKING PRODUCTS IN A materials (PP, copper) CIRCULAR PERSPECTIVE • Research other sustainable value chains • Bio bases
Slide 23: The ECO PLEDGE – SDGs and GRI alignment
The ECO PLEDGE® – SDGs and GRI alignment SUSTAINABILITY PILLARS SUPPORTED SDGS SUPPORTED GRI RE THINKING PRODUCTS IN A Until now no GRI related CIRCULAR PERSPECTIVE to new material development PROTECTING THE ENVIRONMENT 302-1:2016 | 303-3:2018 303-4:2016 | 307-1:2016 ATTENTION TO THE WELL-BEING OF T
Slide 24: The ECO PLEDGE – Re-thinking products
The ECO PLEDGE® – Re-thinking products • Eco-Design aim is to create products which “will come back” because are conceived and built to become future resources and not wastes • Collaboration on the entire value chain is the crucial successful driver TARKETT NAPAPIJRI CORAL EYEWEAR Closing the loop i
Slide 25: The ECO PLEDGE – Protecting the environment
The ECO PLEDGE® – Protecting the environment • Aquafil is committed to respect the environment in every phase of its own production process 302-1:2016 | 303-3:2018 303- 4:2018 | 305-1:2016 305-2:2016 | • Therefore, activities and to reduce impacts and recover energy 306-3:2020 are constant among yea
Slide 26: The ECO PLEDGE – Share responsibility along the supply chain
The ECO PLEDGE® – Share responsibility along the supply chain • Aquafil establish solid relationships with its customers and suppliers, based on the commitment and desire to improve together, 307-1:2016 | 308-1:2016 413- 1:2016 | 414-1:2016 leveraging on constant comparison and collaboration • Some
Slide 27: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 28: 2021 Outlook – ITOCHU Memorandum of Understanding
2021 Outlook – ITOCHU Memorandum of Understanding • Main topics around of the working groups • Evaluation of ITOCHU possible support in the fishing nets collection process, in Japan, then in the Asiatic area and finally in other parts of the world FISHING NETS • Considerations on possibility to sell
Slide 29: 2021 Outlook – Recovery trend ongoing
2021 Outlook – Recovery trend ongoing • January-February 2020 “first grade product” volume still not impacted by COVID • 2021 started with strong push on “first grade product” volume from Polymer market ꟷ price still impacted by raw material value compare to same period 2020 • Until now no significa
Slide 30: 2021 Outlook – Group expectations
2021 Outlook – Group expectations • 2020 uncertainty and variability will continue in the current year in term of both pandemic course - new strains spread and vaccinations timing of in many countries worldwide – and economic scenario • On the bases available data and information, assuming no worsen
Slide 31: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 32: 2020 – Results improvement and circularity path right balance
2020 – Results improvement and “circularity path” right balance EXTRAORDINARY REACTION IN EXTRAORDINARY TIMES IMPROVED BASES FOR GROUP FUTURE THANKS TO AN EXTRAORDINARY TEAM STRATEGIC PATH TO “CIRCULARITY” FAST AND EFFECTIVE ADOPTION ENHANCED BY PANDEMIC EVENT OF COUNTERMEASURES TO MINIMISE PANDEMIC
Slide 33: 2020 – Strong Group reaction from all point of view
2020 – Strong Group reaction from all point of view REVENUES EBITDA NET PROFIT NFP 2019 2020 ∆% 2019 2020 ∆% 2019 2020 ∆% 2019 2020 ∆% 2020 549.0 436.6 (20.5%) 2020 69.4 58.4 (16.0%) 2020 9.0 0.6 (93.4%) 249.6 218.8 14.2% % on net s a l es 12.6% 13.4% % on net s a l es 1.6% 0.1% 4QUARTER 129.4 108.7
Slide 34: Revenues – Double negative influence in 2020
Revenues – Double negative influence in 2020 • 2020: influenced both by COVID impact and raw material price adjustment – Volume : a constant recovery after lockdowns end brought decrease to 12% (1) – Price: increasing negative impact among the year o Caprolactam price down by around 19% with the pea
Slide 35: Revenues – Different recovery speed by region
Revenues – Different recovery speed by region • 2020: fastest recovery in Asia Pacific thanks to BCF residential – EMEA: influenced by BCF due to “contract” final application (1) – North America: driven by O’Mara, NTF growth mitigated BCF weakness • 4Quarter: positive volume in EMEA driven by Polyme
Slide 36: Revenues – BCF most influenced business line
Revenues – BCF most influenced business line SALES BREAKDOWN by PRODUCT LINE 120% 120% 100% 100% 7.5% 8.1% 7.0% 10.4% 7.1% 6.9% 7.3% 7.7% 80% 20.7% 80% 19.6% 22.1% 22.0% 22.1% 19.3% 20.7% 21.4% 60% 60% 40% 40% 72.9% 72.3% 67.9% 73% 70.6% 69.8% 20% 72.2% 71.7% 20% 0% 0% 4Q2019 4Q2020 BCF NTF Polymers
Slide 37: Revenues – Highest price adjustment in 2H
Revenues – Highest price adjustment in 2H 2020 BCF NTF POLYMERS TOTAL 2020 2019 ∆ ∆% 2020 2019 ∆ ∆% 2020 2019 ∆ ∆% 2020 2019 ∆ ∆% EMEA 150.9 203.9 (53.0) (26.0%) 67.2 87.9 (20.7) (23.5%) 29.8 35.5 (5.6) (15.9%) 247.9 327.2 (79.3) (24.2%) North America 80.6 106.1 (25.5) (24.0%) 25.2 16.4 8.8 53.9% 5.
Slide 38: Revenues – ECONYL – Pandemic impact in 2H on BCF
Revenues – ECONYL® – Pandemic impact in 2H on BCF • 2020: different path among the year due to end market different timing reaction – 1H2020: strong orders increase in 1Q driven by clients' fears related to any production stops in Europe – 2H2020: pandemic full impact • Completely different results
Slide 39: Revenues – ECONYL – Consistent historical growth
Revenues – ECONYL® – Consistent historical growth 10.0% ECONYL® and “OTHER FIBRES” • 2015-2019: consistent historical growth delivery GROWTH RATE (1) 7.5% – average increase was more than 2x total fibres growth – % on net sales increased from 32.5% to 37.5% 5.0% 6.4% 2.5% • 2020 decreased related to
Slide 40: Revenues – ECONYL – Consistent historical growth – Drivers
Revenues – ECONYL® – Consistent historical growth – Drivers • Group was able to both influence and benefit from increased focus sustainability thanks to marketing efforts among the entire value chain • Fundamental drivers of these results were – R&D activities – Capability to increase industrial cap
Slide 41: EBITDA – Effective and consistent minimisation of flow through
EBITDA – Effective and consistent minimisation of flow through • Increasing effects among the year of actions promptly implemented in 2Q – 2Q: sales fall by 42.3%, EBITDA reduction by 52% – FY: sales decrease by 20.5% , EBITDA by 16% Sites: prompt adoption stricter safety measures, including new sit
Slide 42: EBITDA – Effective and consistent minimisation of flow through
EBITDA – Effective and consistent minimisation of flow through • 2020: contingency plan enhanced by 2019 saving plans implementation – 2019 delivery saving plans better than expected – Pandemic action plans includes various national grants to support employment (1) • 4Quarter: sales mix and US grant
Slide 43: P&L – Sales reduction and depreciation influence
P&L – Sales reduction and depreciation influence 4Q2020 2020 2019 2020 ∆% 2019 2020 ∆% REVENUES 129.4 108.7 (16.0%) 549.0 436.6 (20.5%) EBITDA 14.5 18.3 % 26.1 69.4 58.4 (15.9%) % on net sales 11.2% 16.8% 12.6% 13.4% EBIT 0.4 5.8 n.s. 17.4 5.9 n.s. • Depreciation: + € 5.8m driven % on net sales % 0.
Slide 44: NFP – Improvement of 12.4%
NFP – Improvement of 12.4% • From € 250m to € 219m – A broad and effective action plan, leveraging on steps already taken in 2019 Proactive and efficient inventories management NWC leveraging on raw material evolution too CASH CAPEX Balance between short and medium long term approach GENERATION M&A
Slide 45: NFP – Strong cash generation
NFP – Strong cash generation NFP HISTORICAL EVOLUTION 250 242 157 112 NFP EVOLUTION CASH GENERATION: € 31.0 45
Slide 46: CAPEX – Development and circularity as milestones
CAPEX – Development and circularity as milestones • Conclusion of past important development projects and strong focus drove material CAPEX reduction – Balance between short term needs and long-term approach • Group CAPEX consistently driven by development, with circularity as milestones – Capacity
Slide 47: CAPEX – Development and circularity as milestone – R&D
CAPEX – Development and circularity as milestone – R&D • “Circularity” as key milestone Project “Eco-design” BCF Flame retardant, anti-stain, and anti-static yarns Anti-bacterial and anti-viral PA6 yarns NTF Low thermal resistance PE yarns for apparels MAIN High UV and thermal resistance PA6 yarns f
Slide 48: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 49: Projects updating – O'Mara acquisition
Projects updating – O’Mara acquisition • Group acquired O’Mara in June 2019 to enter O’MARA RESULTS EVOLUTION (1-2) 50 North American NTF market – Focus on interiors (furniture and mattresses application) and sportswear supply chain 25 • In the first full year inside the Group, Company 0 2018 2019 2
Slide 50: Projects updating – Bio based nylon project
Projects updating – Bio based nylon project • A pillar of Group “The ECO PLEDGE®» and one of the most relevant initiatives in which the Group takes part – 2 different path: Genomatica and Effective projects • Genomatica – Joint technological development to develop the first renewable raw-material ba
Slide 51: Projects updating – Bio based nylon project
Projects updating – Bio based nylon project • Effective – To develop an economic and sustainable process based on renewable raw materials to produce bio caprolactam and bio-polyamide and bio-polyester fibers and films o polymers versatility allow application in a wide variety of products and sectors
Slide 52: Projects updating – ACR#1 and ACR#2
Projects updating – ACR#1 and ACR#2 2017-2019 2020 2021 Plants and organisations Pandemic surge impacted demand ACR#1 and #2 defined and created to have but not improvement efforts activities will be expanded, an ECONYL® supply source whose benefits became more becoming operating units in North Amer
Slide 53: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 54: Disclaimer
Disclaimer This presentation and any material distributed in connection herewith (together, the “Presentation”) prepared by Aquafil S.p.A. (“Aquafil” or “Company”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer t
Slide 55: Definitions
Definitions “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any «FIRST CHOICE adjustments (for example, discounts and allowances), but excluding revenues generated by “non-first REVENUES» choice products”, revenues generated by Aquafil Engineering GmbH and
Slide 56: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 57: Consolidate Income Statement
Consolidate Income Statement CONSOLIDATED INCOME STATEMENT December of wich December of wich Fourth of wich Fourth of wich €/000 2020 non- 2019 non- Quarter 2020 non- Quarter 2019 non- Revenue 436,602 current 458 548,955 current 108,672 current 171 129,418 current of which related parties 53 58 (27)
Slide 58: Consolidate Income Statement – EBITDA Adjusted
Consolidate Income Statement – EBITDA Adjusted RECONCILIATION FROM NET PROFIT TO EBITDA December December Fourth Quarter Fourth Quarter €/000 2020 2019 2020 2019 Net Profit (Including Portion Attr. to Minority ) 595 9,005 3,494 (529) Income Taxes (517) 1,519 (449) (2,195) Amortisation & Depreciation
Slide 59: Consolidate Balance Sheet
Consolidate Balance Sheet CONSOLIDATED BALANCE SHEET At December 31, At December 31, €/000 2020 2019 Intangible Assets 23,578 21,101 Goodwill 13,600 13,029 Tangible Assets 229,495 251,492 Financial Assets 650 765 of which related parties 318 313 Other Assets 1,336 2,189 Deferred Tax Assets 14,563 13
Slide 60: Debt overview – Gross debt details
Debt overview – Gross debt details AMOUT COVENANTS ( 2 ) BORROWINGS - 31 December 2020 ISSUE DATE CURRENCY COUPON ( 1 ) MATURITY Total Drawn Undrawn Parameters Reference Check Private Placement B Sept 2018 EUR 4.70% Sept 2028 50 50 0 EBITDA / Net financial charges > 3.5 (1) Net Debt / EBITDA < 4,5x
Slide 61: Debt overview – Net financial position
Debt overview – Net financial position NET FINANCIAL DEBT At December 31, At December 31, €/000 2020 2019 A. Cash 208,954 90,400 B. Other cash equivalents - - C. Securities held-for-trading - - D. Liquidity ( A + B + C) 208,954 90,400 E. Current financial receivables 834 1,637 F. Current bank loans
Slide 62: Debt overview – Net financial position – Details
Debt overview – Net financial position – Details 400 NFP EVOLUTION 300 200 250 100 218 157 112 0 2017 2018 2019 2020 BREAKDOWN by CURRENCY (1) BREAKDOWN by COUPON (1) 0% 46% 54% 100% Euro USD Fixed Floating Data in € million - (1) Excluding lease liabilities and liquidity 62
Slide 63: Cash Flow Statements
Cash Flow Statements CASH FLOW STATEMENT At December 31, At December 31, €/000 2020 2019 Operation Activities Net Profit (Including Portion Attr. to Minority ) 595 9,005 of which related parties -689 -755 Income Taxes -517 1,519 Financial income -352 -1,195 Financial charges 7,982 7,573 of which rel
Slide 64: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 65: Sector Data – Caprolactam price evolution
Sector Data – Caprolactam price evolution 2018-2020 PRICE EVOLUTION €/ton. 2,500 2018: 2.123 2,000 2019: 1.896 2020: 1.529 1,500 1,000 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec. 2019-2020 QUARTERLY PRICE VARIATION 30% 0% -30% 4Q2019 1Q2020 2Q2020 3Q2020 4Q2020 vs. 3Q2019 vs. 4Q2019
Slide 66: Index Page
Index Page 1. AQUAFIL AT GLANCE 3 2. AQUAFIL MARKET 9 3. ECONYL® 13 4. SUSTAINABILITY PATH 19 5. 2020 FINANCIAL RESULTS & 2021 OUTLOOK 28 5.1. 2021 OUTLOOK 28 5.2. 2020 FINANCIAL RESULTS 32 5.3. SPECIAL PROJECTS 49 6. ANNEX 54 6.1. DISCLAIMER AND DEFINITIONS 54 6.2. 2020 FINANCIAL DATA DETAILS 57 6.
Slide 67: Ownership Structure & Governance
Ownership Structure & Governance A capital structure with 3 type of Shares (a) Ordinary Share, (b) share B: dedicated to Giulio Bonazzi family with the same economic right of ordinary share but with 3 voting right for any share and (c) share C: no transferable, no economic and voting right but at ce
Slide 68: Ownership Structure & Governance
Ownership Structure & Governance Board of Statutory Auditors Stefano Poggi Longostrevi Chairman Board of Directors Giulio Bonazzi Chairman and CEO Fabio Buttignon Fabrizio Calenti Statutory Auditor Adriano Vivaldi Executive Director Executive Director Silvana Bonazzi Franco Rossi Director Executive
Slide 69: Investors Contact
Investors Contact: Karim Tonelli Investor Relations & Performance Management Director karim.tonelli@aquafil.com Mob: +39 348 60 22 950 69